I'm currently receiving SSI and am interested in purchasing an existing website as the owner no longer has an interest in it. The website is an online community and currently the income is purely donation based which often equates to roughly the amount of the operating costs (hosting, domain registration, etc) - give or take a little each month.
If I were to purchase this site to keep it running (which would only require <10 hours a month to maintain), what all would I have to report to SSI and how would the income/expenditures of running the site affect my benefits?
Lastly, if I were to grow the site into more of a business through the implementation of subscriptions or something, how would this affect my benefits? The reason I want to increase the site's revenue is to ensure that it can continue to pay for itself and so that I can outsource developers to help maintain or improve it. I have no interest in pocketing the money, so would there be a way to keep the finances separate to not affect my benefits?
I would strongly suggest taking a free consultation with a local attorney specializing in SS benefits before doing this. Any net income to you would likely have an impact on benefits.
To questioners from West Virginia & New York: Although I am licensed to practice in your state (in WV, on inactive status as of 9/13), I practice on a day-to-day basis in Massachusetts. I answer questions in your state in areas of the law in which I practice, and in which I feel comfortable trying to offer you assistance based on my knowledge of specific statutes in your state and/or general principles applicable in all states. It is always best, however, to work with attorneys and court personnel in your own area to deal with specific problems and factual situations.
As with any other job, you must report all income to the SSA. If you are getting SSI (not SSDI) there will be an offset on your monthly benefit payment.
answers to questions are for general purposes only and do not establish an attorney-client relationship.
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